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CIB now owns all of Kenya’s Mayfair: EGX mainstay CIB will acquire 49% of Mayfair CIB for USD 40 mn, giving it full ownership of the Kenyan bank, CIB said in a statement yesterday. Mayfair CIB has a focus on corporate and trade finance. The Egyptian and Kenyan central banks have approved the transaction, paving […]
Author Archives: enterpriseam admin
Posted inLEGISLATION WATCH
More independence for tourism chambers + Hefty fines for fake weather news
House gives first nod to tourism bill: The House of Representatives yesterday gave its preliminary approval to a draft bill that will strip the power to form and regulate tourism chambers from the Tourism Minister and place it instead in the hands of the Egyptian Tourism Federation (ETF). The 72-article bill aims to make tourism […]
Posted inStartup watch
Wafeq plans Egypt entry after raising USD 3 mn seed round
While scaling its services in the Gulf
Posted inMoves
Katamish moves to MNHD + new IR leads at OFH and EK Holding
Our friend Salah Katamish (LinkedIn) is now full time at real estate developer MNHD as the company’s senior vice president for strategy and investments. He remains a member of the board of directors at MNHD, a post he has held since 2017. Katamish had been on staff at private equity investor BPE Partners, where he […]
Posted inLAST NIGHT’S TALK SHOWS
EGX gains, high-yield CDs, and rate hikes on the airwaves
It was another econ-heavy evening on the talk shows last night, with the talking heads cheering a good day for the EGX yesterday; totting up inflows to high-yield CDs ahead of the finish line tomorrow; and looking into their crystal balls to see whether a rate hike is in the cards when central bank policy […]
Posted inEGYPT IN THE NEWS
More econ talk in the int’l press
It’s a mixed bag for mentions of Egypt in the foreign press this morning. There’s still plenty of interest in our economy: Soaring book prices on the back of higher materials costs has led the Egyptian Publishers Association to offer customers payment plans of up to nine months with 1.5% interest to purchase books, the […]
Posted inUncategorized
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Posted inAlso on our Radar
IFC, Tadamun partner to expand microfinance for women-led SMEs
DEVELOPMENT FINANCE- IFC, Tadamun to boost women-led micro firms: The International Financial Corporation (IFC) has agreed to assist Tadamun Microfinance Foundation in digitizing and expanding its services, it said in a press release (pdf) last week. Tadamun is a local social enterprise focused on providing women micro entrepreneurs with access to finance and technical expertise. […]